Bayut and dubizzle’s Q1 2021 Ajman property market report: Prices stabilise in the first quarter of 2021

• Buying Apartments
• Renting Apartments
• Villas for Rent and Sale
• Top Off-Plan Projects

As we enter the second quarter of 2021, it’s time to evaluate how property prices in Ajman have fared for the first three months.

During the first quarter of 2021, Ajman has seen rental and sales prices in popular neighbourhoods remain steady for the most part. Most of the price fluctuations have also been extremely controlled. Centrally-located areas such as Ajman Downtown, Corniche Ajman, Al Nuaimiya and Al Rashidiya have continued to be popular with both investors and tenants for apartments in Ajman. When it comes to villas for rent and sale, family-friendly areas such as Al Yasmeen, Al Rawda and Al Mowaihat have been the preferred choices.

For more insight on the performance of the Ajman property market, let’s take a closer look at Bayut & dubizzle’s real estate market report for Q1 2021.

Our Q1 2021 market report compares the average sales price-per-square-foot for an area with those seen in Q4 2020, for an accurate representation of properties for sale. Please note that these prices are subject to change based on multiple factors, including amenities available, the developer involved in the project, location and other key details.

Property prices in Ajman for buying apartments in Q1 2021

As per consumer preferences observed for the Ajman real estate market report for Q1 2021, Ajman Downtown, Corniche Ajman and Emirates City have been popular with investors during the first quarter.

Ajman Downtown is the most sought-after area to buy apartments in Ajman: Bayut & dubizzle Q1 2021 Ajman real estate market report

Ajman Downtown has continued to be the most sought-after area for investors, offering excellent connectivity and abundant amenities. When compared to Q4 2020, the price-per-square-foot for flats in Ajman Downtown has decreased slightly from AED 205 to AED 203.

The 1-bed flats for sale in Ajman Downtown have averaged at AED 220k, while 2-BHK flats have stood at AED 302k. The 3-bed apartments for sale in Ajman Downtown have seen asking prices average at AED 392k.

Corniche Ajman has been the second-most popular area for apartment sales in Ajman. Also referred to as Ajman Corniche, the neighbourhood is famous for its waterfront residences and beaches. The area has witnessed a slight increase of 5.31% in the price per square foot, rising from AED 423 in Q4 2020 to AED 445 in Q1 2021.

The price of 1-bedroom flats for sale in Corniche Ajman has seen a marginal increase from AED 589k to AED 616k in Q1 2021. Similarly, the asking prices for 2-bed apartments for sale in Corniche Ajman have also increased from AED 836k to AED 854k in the first quarter of 2021. Furthermore, the 3-bed apartments for sale in Corniche Ajman have averaged at AED 1.5M, increasing from AED 1.4M in Q4 2020.

Those looking to invest in Ajman real estate should also consider Emirates City, which has seen price-per-square-foot for flats remain steady at AED 177. According to Bayut & dubizzle’s Ajman property market analysis, the average price for 1-bed apartments for sale in Emirates City has stood at AED 163k. Additionally, the asking prices for 2 and 3-bed apartments in Ajman have been relatively stable at AED 220k and AED 241k respectively.

Aside from the mentioned areas, buyers in search of apartments for sale in Ajman can also consider popular areas such as Al Nuaimiya, Al Yasmeen, Al Rashidiya, Al Sawan and Al Bustan.

Garden City leads with the highest ROI for apartments in Ajman

Garden City has offered the highest rental yields for apartments in Ajman at 9.79%, followed by Emirates City and Ajman Downtown at 9.61% and 9.51% respectively.

Bayut & dubizzle’s report has also revealed that Al Sawan yields strong returns of 7.15% for apartments, while other areas such as Al Nuaimiya, Corniche Ajman and Al Rashidya offer healthy returns exceeding 5%.

Ajman property trends for rental apartments in Q1 2021

According to Bayut & dubizzle’s Ajman real estate market report 2021, prospective tenants have favoured Al Nuaimiya, Ajman Downtown and Al Rashidiya for rental flats in Ajman.

Al Nuaimiya is the most popular area to rent apartments: Bayut & dubizzle Q1 2021 Ajman real estate market report

According to consumer trends observed on Bayut & dubizzle, Al Nuaimiya has continued to be the preferred choice to rent apartments in Ajman. This has largely been due to its proximity to popular waterfront destinations and affordable housing options.

In Q1 2021, Al Nuaimiya has seen rental costs for apartments become more affordable. Tenants can expect to pay an average of AED 15k annually to rent a studio flat in Al Nuaimiya, while 2-bed apartments for rent in Al Nuaimiya have averaged at AED 28k in Q1 2021.

Ajman Downtown has also remained popular with tenants looking for centrally-located apartments in Ajman. Apartments in Ajman Downtown have largely seen rental prices remain steady in Q1 2021. While the average asking rents for studios and 1-bed units have remained unchanged, the rental costs for 2-bed apartments have seen a moderate decrease of 3.42%. The average cost of studios for rent in Ajman Downtown has remained steady at AED 14k. Similarly, the average cost of 1-bed apartments for rent in Ajman Downtown has stayed reasonable at AED 19k while that for renting 2-bed flats in Ajman Downtown has also remained affordable at AED 27k per annum.

Al Rashidiya has ranked third amongst the most searched for locations for renting flats in the smallest emirate. Its proximity to the Sharjah-Ajman border makes it an ideal location for tenants who frequently commute between the two emirates.

The asking rents for studios in Al Rashidiya have moderately declined by 9.50% compared to Q1 2021, averaging at AED 14k per annum. However, the prices for 1-bed apartments for rent in Al Rashidiya have remained unchanged at AED 19k. On the other hand, the rent for 2-bed rental flats in Al Rashidiya shows a slight dip of 2.3% and has averaged at AED 26k.

The next most sought-after area for rental flats in Ajman has been Al Rawda, followed by Emirates City and Al Jurf. Other areas that have also attracted prospective tenants in the real estate market in Ajman are Al Sawan, Corniche Ajman, Al Mowaihat and Garden City. Most of these neighbourhoods have experienced stability or slight decreases in rental costs of up to 7%. However, Corniche Ajman and Al Jurf have seen an uptick in rental costs of up to 8% for certain bed types, when compared to Q4 2020.

Now, let’s take a closer look at the trends in Ajman real estate market for buying and renting villas.

Ajman property market analysis: Most popular areas to buy and rent villas in Ajman

This section in our Ajman property market report for 2021 will look at the most searched for areas to rent and buy villas in Ajman.

Al Yasmeen is the top area to buy villas in Ajman for Q1 2021

When it comes to buying villas in Ajman, Al Yasmeen has emerged as the most popular choice in Q1 2021. The starting prices to buy villas in Al Yasmeen ranges between AED 699k for 3-bed villas to AED 800k for 5-bed houses.

The second most popular area to buy villas in Ajman has been Al Zahia, as per Bayut & dubizzle’s property market report. Prices for 3-bed villas for sale in Al Zahia start at AED 775k. Those searching for larger accommodations may consider 5-bed villas for sale in Al Zahia, which start from AED 980k.

Al Rawda has come in third when it comes to popular areas with villas for sale in Ajman. Its proximity to the border and various international schools has made it a popular choice with families, resulting in a slight rise in prices. The starting costs to buy villas in Al Rawda has ranged from AED 840k for 3-BHK to AED 1.07M for 5-BHK houses.

Aside from these areas, Al Mowaihat, Masfoot, Al Helio, Al Hamidiyah, Al Jurf, Al Rashidiya and Al Bustan have also ranked amongt the popular areas for villa sales in Ajman.

Al Yasmeen and Al Helio offer the highest ROI for villa sales

Al Yasmeen and Al Helio have offered the highest rental yields for villas in Ajman at 6.62% and 6.24% respectively. Buyers interested in the villas with strong rental returns can also consider Al Zahia, Al Bustan and Al Mowaihat, which offer an average ROI of 6.23%, 5.68% and 4.75% respectively.

Al Rawda is the most popular area to rent villas in Ajman in Q1 2021

Al Rawda has been the most preferred choice for villa rentals in Ajman for Q1 2021. The starting rent for 3-bed villas in Al Rawda is AED 55k per annum. Furthermore, potential tenants can also find 4-bed villas for rent in Al Rawda with a starting annual price at AED 50k.

The second most popular area for rental villas in Ajman has been Al Mowaihat. Apart from its ideal location near the Sharjah-Ajman border, the area is gaining popularity with prospective tenants for its affordable rents. Currently, the cost to rent villas in Al Mowaihat starts from AED 55k for a 3-bedroom house.

Additionally, potential tenants have also turned their attention towards Al Nuaimiya, Al Yasmeen, Corniche Ajman, Al Rashidiya, Musherief, Al Hamidiyah, Al Jurf and Al Raqaib for rental villas in Ajman.

Top off-plan projects in Ajman: property market report for Ajman 2021

The off-plan property market in Ajman has also offered attractive prospects for investors. Camellia in Ajman Uptown has been the most popular off-plan project in Ajman for 2021’s first quarter. The villa community is inspired by French architecture and has a popular shopping district.

Coming in a close second for best off-plan developments in the smallest emirate has been the modern Al Mazraa Tower in Al Amerah. The available apartments in this project are ideal for single professionals and small families.

That concludes our Ajman real estate market report for Q1 2021. To learn more about the property markets in other emirates, check out the Abu Dhabi rental market report for Q1 2021 or the Dubai sales report for Q1 2021.

Disclaimer: The above report is based on prices advertised by real estate agencies on behalf of their clients on Bayut & dubizzle and is not representative of actual real estate transactions conducted in Ajman.